Palo Verde, Arizona Property Taxes
The median property tax rate in Palo Verde, AZ is 0.43%, significantly lower than both the national median of 0.99% and the Arizona state median of 0.56%. With the median home value in Palo Verde at $275,050, the typical annual property tax bill amounts to $1,199, well below the national median of $2,690. Property taxes in Palo Verde are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Palo Verde's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Palo Verde or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Palo Verde, Arizona Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$1,183
Ownwell’s Palo Verde Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palo Verde with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palo Verde to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Palo Verde, Arizona
Property taxes in Palo Verde, Arizona, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Palo Verde is 0.43%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Palo Verde set these rates annually, and they can vary across different neighborhoods. Each year, Palo Verde estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. For comparison, the zip code 85343, which includes Palo Verde, has a median property tax rate of 0.43%. Understanding how these cities compare with Palo Verde provides valuable insights into the varying tax landscape across Maricopa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Palo Verde Tax Rate
0.43%
Average Maricopa County Tax Rate
0.52%
Average Arizona Tax Rate
0.56%
Average United States Tax Rate
0.99%
Property Tax Rates Across Palo Verde, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85343 | 0.23% | 0.29% | 0.43% | 0.64% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Palo Verde, Arizona
In Palo Verde, Arizona, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Maricopa County Assessor's Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Palo Verde, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Palo Verde helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 85343 has both the highest and lowest median tax bill at $1,199, reflecting the range of property values and tax liabilities in the area.
Average Palo Verde Assessed Value
$275,050
Average Maricopa County Assessed Value
$328,300
Average Arizona Assessed Value
$302,154
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Palo Verde, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85343 | $53,810 | $151,050 | $275,050 | $358,600 | $435,770 |
Source: Ownwell
Property Tax Bills Across Palo Verde, Arizona
Property tax bills in Palo Verde, Maricopa County, AZ, are determined by assessing the value of a property and applying the local tax rate. The assessed value is derived from the market value, which reflects the property's worth based on current market conditions. Various factors influence this assessment, including the property's size, location, and condition. In Palo Verde, the median home price is $275,050. Homeowners can expect their property tax bills to vary widely, with the 25th percentile at $489 and the 75th percentile reaching $2,137. For those in the 90th percentile, the tax bill can be as high as $2,591. These figures indicate a significant range in property tax obligations, influenced by the assessed value and specific tax rates applied. Comparatively, the national median property tax rate stands at 0.99%, highlighting that local rates and property values can significantly impact homeowners' financial responsibilities. Understanding these factors is crucial for homeowners to anticipate their annual property tax expenses accurately.
Average Palo Verde Tax Bill
$1,199
Average Maricopa County Tax Bill
$1,766
Average Arizona Tax Bill
$1,666
Average United States Tax Bill
$2,690
Property Tax Bills Across Palo Verde, Arizona
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 85343 | $165 | $489 | $1,199 | $2,137 | $2,591 |
Source: Ownwell